The Business of Corporate Social Responsibility

It is no longer enough for companies to focus solely on profit margins and revenue streams, to be sustainable there is a need to integrate and give back to the communities they are operating in.

Integrating into a community and contributing to good causes can provide a more positive and engaging workplace for employees. Instilling a strong corporate social responsibility culture throughout an organisation will help in creating a more productive, thriving atmosphere. The same activity can also lead to other business benefits, including the development of new partnerships, attracting or retaining investors as well as employees.

We have seen over the last number of years, how issues such as the skills gap and recruitment have proved problematic for many businesses in NI. Companies have had to look at ways of making themselves more attractive to employees, particularly given competition from the Republic of Ireland and parts of the UK.

One area many businesses have prioritised is their ‘purpose’, how they are addressing key social and environmental issues - essentially make themselves accountable to customers, clients, employees and external stakeholders. 86% of millennials believe that a businesses’ success should be defined by more than financial performance.

At BDO Northern Ireland, support for corporate social responsibility has been long standing, with a range of initiatives not only raising money for important and worthy activities but also providing an opportunity to reflect and reinforce business culture and its values. Every two years the BDO NI CSR committee announces their support of one charity around which the fundraising activities during this time will focus. This committee has membership from across the business, from partner’s right through to support staff. Carol Malcolmson, Partner at BDO NI said: “Corporate Social Responsibility is as much a part of what we do in our Belfast office as any other service we provide to clients and we treat it with the same level of importance. We have witnessed first-hand, how it can have a positive impact on employees, the business has developed strong relationships with partners we have supported over the years and we look to continue this for many years to come”.

“It allows employees to undertake a different level of creativity, particularly when it comes to deciding on the main fundraising ideas or organising fun and interactive events. There is a freedom within our CSR Committee, with ideas being openly discussed, giving employees a sense of ownership”.

Employee buy-in and ownership of activities isa critical feature of the firm’s approach. Every twoyears, potential charitable partnerships are firstlynominated, and then selected by staff ballot.

BDO Northern Ireland signed a two-year partnershipwith The Children’s Cancer Unit Charity in June 2018and within just one year reached their initial twoyeartarget of raising over £20K. The much neededfunds will go towards supporting staff, patients andfamilies in the Children’s Haematology and OncologyUnit at the Royal Belfast Hospital for Sick Children.

The Children’s Cancer Unit Charity founded in 1984and exists to support the work of the Unit, which is the only place in Northern Ireland where children receive specialist treatment for cancer. The Charity helps provide funds for essential equipment, additional provision of staff and other family support measures.

Some of the activities undertaken by the BDO NI team in the first year of the partnership included the BelfastMarathon Relay, Christmas fayre, busking, charity fashion show and a clothing initiative, which gifted a collection of specially tailored clothing to children who were ill.

It is participating in initiatives like this that has helpedmake BDO an employer of choice in the local marketand fostered an office environment that supports thedevelopment and retention of talent. In fact, half of thefirm’s partners joined from university and the opportunityto take part in corporate social responsibility activities thatmake a real difference to people’s lives can be decisive ingraduates decision to start their careers with BDO NI.

Carol finished, “It is easy for businesses to getfixated on the operational side of their business,which is understandable, particularly at a time ofsuch uncertainty for our businesses. It is important;however, that they take some time to assesstheir contribution to the communities they areworking in. They will in turn see both a personal andbusiness return in their investment of resources.